News

Emergency Fuel Adjustment Factor (EFAF)

2018-05-31

Dear Customer,

In light of heightened geo-political tensions as well as contributing macro-economic developments the fuel price in 2018 has increased by 45% versus the 2017 average reaching a level of USD 440 per ton (Basis IFO 380 / Rotterdam). This significant and sudden upward development in shipping’s largest single cost component means that it is no longer possible for Hamburg Süd to sustain its services without an adjustment to its fuel cost recovery.